We are at a pivotal moment for humanity: to prevent climate change having a devastating impact on our planet, we must limit global warming to 1.5°C above pre-industrial levels by 2050 and cut emissions by half within a decade.Banks can be at the heart of this change. They have powerful opportunities to grow their businesses by financing the transition to a more sustainable world and drive decarbonisation across sectors. In parallel, they must identify and reduce the climate-related risks they face themselves.But banks can’t go it alone. To act on these risks and opportunities, they must work closely with governments, civil society, and corporate clients to embed sustainable business practices and facilitate reductions in emissions. Meanwhile, they’ll need to adapt their own businesses to align with Net Zero. There are five key dimensions where banks need to evolve their operating models.
Anindita Pal -